September, 2016

article thumbnail

Mastercard Says Fraud Costs Dropped 54% Since (EMV) October 2015

PYMNTS

One year into the shift to chip-enabled cards — for the U.S., that is — Mastercard said on Monday (Sept. 12) that data shows a “ positive impact ” through the technology across stakeholders, including issuing banks, consumers and merchants. In reference to fraud — the very activity that the cards are designed to thwart — Mastercard stated that fraud data shows a 54 percent decrease in counterfeit fraud costs at retailers who have either completed or are close to completing EMV transitions, as me

Retail 92
article thumbnail

Yahoo’s Massive Breach Could Affect Hundreds Of Millions Of Users

PYMNTS

If recent emerging reports are accurate, the team at Yahoo is about to bring new meaning to the phrase “having a tough morning.” Yahoo is apparently on the verge of reporting a massive data breach of its service — a giant hack that has exposed the data behind hundreds of millions of user accounts. At this point, that is about all that is known on the hack: Several sources close to the situation were not able to say much more about it other than commenting on its scale and the fact th

Legal 87
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Apple To Face Opposition From Seoul Firms Over Closed NFC

PYMNTS

Apple is about to face opposition from a group of Seoul-based financial technology firms that are gearing up to file a complaint with the Korean Fair Trade Commission. According to a report , the financial technology firms are upset about Apple’s closed policy for the near-field communication functions of its iPhones. The financial technology firms in Korea , which include Hankook NFC, Kona I and Cashbee, and law firm Tech&Law reportedly held a meeting last week to hash out how to respond to

article thumbnail

Fraud, In A Factory Setting

PYMNTS

Meet the newest factory worker: the fraudster. In the latest iteration of the Meet The Fraudster Podcast Series, Forter fraud analyst Gilit Saporta takes PYMNTS inside another class of cybercriminals, those known simply as the “factory fraudsters.”. The name conjures up, as Karen Webster noted, rows of workers populating a literal factory floor, with activity humming day in and day out — in this case, on the prowl to lure merchants into fraudulent transactions for goods to be sent, yet no legiti

article thumbnail

Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

article thumbnail

Retail Goes Virtual (Reality) With InContext And Intel

PYMNTS

The retail industry is facing a virtual change: virtual reality. InContext Solutions announced it’s collaborating with Intel to develop new virtual reality (VR) hardware and software for the retail industry. The goal, a combined release said, is to provide the “best-in-class VR solution” and meet the changing needs of the retail ecosystem. VR does seem to be the next, almost futuristic phase of how we view the world.

Retail 84
article thumbnail

Building An IoT Health Care Ecosystem

PYMNTS

The Internet of Things (IoT) has its sights set on changing the health care industry as we know it. Figures from PricewaterhouseCoopers estimate that the connected health care market could grow to $61 billion by 2020 — that’s a growth rate of 33 percent annually from current levels. The market for IoT health devices is also expected to see a surge to $14 billion by 2020.

More Trending

article thumbnail

Picking Up Where Omnichannel Leaves Off

PYMNTS

At this point, omnichannel isn’t anything new. Omnichannel is supporting payments across multiple channels, we got it. Though many merchants aren’t there yet (even though consumers are demanding they should be), the concept has become commonplace in today’s digital landscape. But ensuring that consumers are able to pay when they want, how they want and where they want requires more than making sure a transaction goes through.

Retail 81
article thumbnail

Developing The Developer Portal (Sagely)

PYMNTS

Remember the days when innovation was developed in-house? With teams in a lab, at banks of computers or with focus groups? OK, that’s not ALL in the past, but these days, technology moves fast, and firms must move even faster to stay on the cusp of change and to keep consumers engaged. The rise of the developer portal has influenced and spurred input from independent software vendors (ISVs).

payroll 81
article thumbnail

Rent Payments With Benefits?

PYMNTS

Checks are a dying payment method, according to the Federal Reserve, except when it comes to rent payments. That may be about to change, however, thanks to full-service payment solutions that can accept credit card, debit card and mobile wallet rent, while rewarding tenants for paying rent on time. According to research from the Fed , the number of paper checks being used dropped by more than 50 percent between 2000 and 2012, as the use of new payment methods, like cards and mobile wallets, more

Retail 80
article thumbnail

The Dawn Of The Connected Baby?

PYMNTS

Internet of Things technology has been credited with saving people time and money in recent years, but potentially helping parents save their baby’s life? Sudden infant death syndrome (SIDS) claimed the lives of about 1,500 babies in 2014, according to the CDC , and is among some of the most serious concerns first-time parents may have for their newborn.

Utah 80
article thumbnail

How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

article thumbnail

Facebook Expands Payments Options And Its Obsession With Snapchat

PYMNTS

Facebook is trying hard to stamp its ground in the mobile space. In March 2015, Facebook Messenger began accepting payments. This marked the first P2P payments system within a communication platform. Facebook hired Paypal’s David Marcus to lead the charge, and Forbes predicted that Facebook’s revenues from payments would soar. In 2010, Facebook offered Facebook Credits, with which users could buy virtual goods in games, and created a subsidiary to manage the payments.

Gaming 80
article thumbnail

Meet HeroPay, The Startup That Wants To Be Small Business’ Payments Hero

PYMNTS

The payments industry is a fairly large pie, but the way things are currently set up is skewed to favor larger vendors and businesses — a $4 trillion industry in the U.S. alone. Of that $4 trillion pie, the U.S.’s 7.2 million small businesses make up about 26 percent of the overall payments industry but are responsible for 79 percent of its total fees.

Florida 80
article thumbnail

FinTech Is Flourishing South Of The Border

PYMNTS

Latin America is making big gains in the realm of payments, but Mexico may just be the region’s standout star. The country has gone through its fair share of hardships — drug wars, government corruption and unpunished crimes, to name a few — but the tech ecosystem is defying the odds. In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we take a trip south of the border to explore the development of Mexico’s tech landscape and how it may actually be producing the next Silicon Valley.

article thumbnail

Zscaler Finds Scams On Magento’s Platform

PYMNTS

New research from Zscaler highlights an online scam to obtain credit card information from Magento’s eCommerce platform. Over the last three months, hackers have compromised over 400 retail sites that run Magento. The hackers injected malicious JavaScripts into the sites, and users are taken to a fake payment page where their information is stolen after it is entered.

Retail 79
article thumbnail

No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

article thumbnail

New Internet Of Things Report Out

PYMNTS

From now until 2020, the global Internet of Things is expected to grow at a CAGR of 36 percent. That’s according to a new report out this week. . While some believe the IoT is still in its infancy, PYMNTS continues to monitor this network through the IoT Tracker , sponsored by Intel, f ocusing on technology integrated into everyday objects and life.

Sports 79
article thumbnail

Boost For Cybersecurity Is A Bane For Banks

PYMNTS

Big news on the cybersecurity front and great news for the cybersecurity industry. New York Governor Andrew Cuomo and the top bank regulator for the state proposed on Tuesday (Sept. 13) that the state be the first to require banks to establish cybersecurity programs. The regulations, if implemented, could cost banks and insurers millions, as banks would be forced to detect and deter incoming cyberattacks to protect consumer data by implementing systems under a chief information security officer.

article thumbnail

Blockchain Startups Fine-Tune The Music Industry

PYMNTS

Startups specializing in blockchain may have their eye on disrupting the $15 billion music industry. According to Forbes , the music industry stands to benefit greatly from the use of blockchain technology. In many cases, musicians have to go through deals with several intermediaries, such as record labels, publishers and distributors, in order to make their music available to the masses.

article thumbnail

One Year In, Removing The Masking Tape From EMV

PYMNTS

Regardless of the event, anniversaries serve to remind us of what happened, how far we’ve come and what lies ahead. As the payments industry nears the one-year anniversary of the United States’ transition to EMV, of course, it’s an opportune time to take stock of progress and what remains to be done. High on that list, Jeremy Gumbley, CTO of Creditcall, says is removing the masking tape that now covers the card slots of many of the upgraded EMV terminals that now grace merchant countertops.

Retail 78
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

Cybercriminals Targeting Apps

PYMNTS

Gone are the days when bank robbers wore face masks and carried guns and dynamite to get into safes. Now, all they need is a comfortable chair and a PC. Earlier this year, cybercriminals stole $81 million from the Bangladeshi central bank, and they also stole the trust that the SWIFT global payments network had built with its 11,000 users. Payments networks must constantly find new ways to battle incoming digital threats.

Legal 78
article thumbnail

NFC Transaction Market Poised To Grow More Than 50 Percent In Coming Years

PYMNTS

Research and Markets announced on Thursday (Sept. 15) the release of the “ Global NFC Transaction Market 2016–2020 ” report, which found that the NFC transaction market is set to grow at a CAGR of 55.23 percent during the period of 2016 through 2020. Based on in-depth market analysis and inputs from industry experts, Research and Markets said in a press release that the report covers the market landscape and its growth prospects over the coming years.

Retail 78
article thumbnail

US Government Sees The Benefits Of Blockchain

PYMNTS

The U.S. government seems to be accepting the positive impact that digital currencies and blockchain could have on legacy financial systems, according to Business Insider. A non-binding resolution was passed on Monday (Sept. 12) by the U.S. House of Representatives, asking the government to establish a national policy for technology. The resolution implies that bitcoin and blockchain technology are ways to help the unbanked and empower the consumer.

article thumbnail

Global Payments Cybersecurity Task Force A Go

PYMNTS

With the pressure of cybercrime mounting in the financial services space, several central banks of the globe are joining together to figure out a strategy. Reports on Friday (Sept. 16) said several central banks have confirmed the formation of a task force to explore cybersecurity of cross-border payments and banking to protect interbank transactions.

article thumbnail

Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

article thumbnail

Why Fraud Doesn’t Have To Be The ‘Cost Of Doing Business’

PYMNTS

Retailers have been conditioned to think that fraud is simply an unavoidable cost of doing business. And, year in and year out, they factor into their budgets whatever percentage of sales they are comfortable writing off due to not only fraud but also fraud prevention, which has traditionally been strongly risk-averse and often blocks good sales, as well as fraudulent ones.

Retail 78
article thumbnail

Delivery Time And Brand Packaging Can Secure Customer Loyalty

PYMNTS

Speed and aesthetics are the way to a consumer’s heart, it seems. A study by Dotcom Distribution, a logistics and fulfillment firm, found that close to 90 percent of online shoppers consider delivery times central to their decision to shop with an eCommerce brand in the future. Not only that, but almost 70 percent of online shoppers are willing to pay extra for same-day delivery if they are under a deadline, such as an anniversary or birthday.

Retail 77
article thumbnail

Bitfinex Was A Teaching Moment

PYMNTS

With no Samsung-like news for bitcoin, prices are holding steady and are even a bit bullish. Pundits expect that trend to continue, unless the price goes below $600, when traders are advised to close long positions to prepare for an initial downside to $570. But let’s turn to the miners, who aren’t happy at all with a stable bitcoin price. The bitcoin block reward was halved in July, which has changed the profitability of new miner entries and could impact the decentralization of bitcoin.

article thumbnail

Chatbot Tracker: Pizza, Fashion & Cloud Computing

PYMNTS

Dare you. Nay, double dare you to find an industry without a bot. It’s true: bots have squeezed their way in and they’re changing the way companies interact with consumers online. . Recently, PYMNTS’ Karen Webster discussed if it’s time to jump on the “ Bot Bandwagon ” this week , and perhaps it is. Over the past week, bots are joining the fashion industry at runway events, delivering pizza without hopping off Facebook and peeking through in cloud technology.

article thumbnail

Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

article thumbnail

Adapt To Faster Payments With Enterprise Fraud Prevention

PYMNTS

The need for speed has a double edge, and in the payments world, this double edge is more choice for businesses and consumers against potential opportunities for fraudsters to tap into new payment models. ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud.

77
article thumbnail

YouTube Soothes, Dunkin’ Runs On Bitcoin, Aéropostale Pulls Off A Miracle

PYMNTS

It was a big week for payments and commerce last week. The rapid proliferation of headlines indicated that everyone came back from summer vacation tanned, rested and committed to finishing off 2016 with a sprint. Some of the big news was expected — the iPhone launched to a collective yawn and probably decent sales in its first weekend. Nothing like having the competition’s phone blow up, literally, to drive sales of your own product.

article thumbnail

Messenger Chatbots Are Now Payments-Enabled

PYMNTS

Facebook Messenger is officially accepting payments. The social media platform announced that its chatbot service is now commerce-enabled. At the TechCrunch Disrupt SF 2016 event on Monday (Sept. 12), David Marcus, VP of messaging products at Facebook, explained that users will no longer be sent to an external website because Messenger bots will be able to facilitate payments natively, TechCrunch reported.

account 77
article thumbnail

Cyberattacks Happening To More Than One-Third Of US Consumers

PYMNTS

If you don’t think computer hacks and viruses are a big deal, think again. According to a survey by Zogby Analytics for Hartford Steam Boiler Inspection and Insurance Company (HSB), more than one-third of U.S. consumers have experienced a computer virus, hacking event or some other cyberattack during the past 12 months. What’s more, the survey found the most likely victims are young adults between the ages of 18 and 24.

77
article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.